"An Exchange Rate Does not Exist" error while creating an item

Hi..
Pre-requisites: RMS is installed without base data
We are trying to create an item in RMS by filling the required information in "Item Maintenance window" and "Supplier details" screen. After this is done when we select the "Retail by Zone" link and the application prompts an error message : "An Exchange Rate Does not Exist", and all the values in "Retail by zone" screen are not populated. How do we ressolve this?
Thanks in Advance
Yamini

Also, make sure that if a currency has a rate entry for example, 01-jul-2010, then make sure that ALL other currencies have a rate entry for 01-jul-2010, even if the rate has not changed for other currencies - a little trick I learned from an Oracle consultant.
Alan

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